Baker Hughes reports that the U.S. rig count is down 4 rigs from last week to 1,071, with oil rigs down 4 to 873 and gas rigs unchanged at 198. The U.S. Rig Count is up 141 rigs from last year's count of 930, with oil rigs up 126 and gas rigs up 15. The U.S. Offshore Rig Count is unchanged at 23 rigs and up 4 rigs year-over-year. The Canada Rig Count is down 12 rigs from last week to 174, with oil rigs down 7 to 95 and gas rigs down 5 to 79. The Canada Rig Count is down 64 rigs from last year's count of 238, with oil rigs down 39 and gas rigs down 25.

GE stake in Baker Hughes remains an overhang, says Susquehanna. Susquehanna analyst Charles Minervino said Baker Hughes (BHGE) management expressed optimism about its end market diversification, global oilfield footprint and robust backlog in recent meetings and noted the company has not made any changes to its outlook assumptions disclosed on the Q3 call. While he thinks Baker Hughes has done "a very admirable job" of managing the new organization since the GE (GE) merger, Minervino keeps a Neutral rating on the stock given the lingering GE 50.4% ownership overhang. After lowering his 2019 EPS estimate to $1.29 from $1.39 to account for model changes and the recent move in crude prices, Minervino lowered his price target on Baker Hughes shares to $24 from $31.

Baker Hughes reports that the U.S. rig count is down 1 rig from last week to 1,075, with oil rigs down 10 to 877 and gas rigs up 9 to 198. The U.S. Rig Count is up 144 rigs from last year's count of 931, with oil rigs up 126 and gas rigs up 18. The U.S. Offshore Rig Count is unchanged at 23 rigs and up 3 rigs year-over-year. The Canada Rig Count is down 13 rigs from last week to 186, with oil rigs down 17 to 102 and gas rigs up 4 to 84. The Canada Rig Count is down 33 rigs from last year's count of 219, with oil rigs down 10 and gas rigs down 23.

Baker Hughes, a GE company, announced that the Baker Hughes international rig count for November 2018 was 991, down 26 from the 1,017 counted in October 2018, and up 49 from the 942 counted in November 2017. The international offshore rig count for November 2018 was 206, down 1 from the 207 counted in October 2018, and up 23 from the 183 counted in November 2017. The average U.S. rig count for November 2018 was 1,077, up 15 from the 1,062 counted in October 2018, and up 166 from the 911 counted in November 2017. The average Canadian rig count for November 2018 was 198, up 6 from the 192 counted in October 2018, and down 6 from the 204 counted in November 2017. The worldwide rig count for November 2018 was 2,266, down 5 from the 2,271 counted in October 2018, and up 209 from the 2,057 counted in November 2017.

Baker Hughes reports that the U.S. rig count is down 3 rigs from last week to 1,076, with oil rigs up 2 to 887 and gas rigs down 5 to 189. The U.S. Rig Count is up 147 rigs from last year's count of 929, with oil rigs up 138 and gas rigs up 9. The U.S. Offshore Rig Count is down 2 rigs to 23 and up 3 rigs year-over-year. The Canada Rig Count is down 5 rigs from last week to 199, with oil rigs down 5 to 119 and gas rigs unchanged at 80. The Canada Rig Count is down 23 rigs from last year's count of 222, with oil rigs up 8 and gas rigs down 31.